“Healthy bitcoin miners are hodling, and struggling miners have little BTC left to sell. Bullish.”

Bitcoin miner outflow multiple historical chart. Source: Glassnode

Bitcoin channels 2018 bear market bottom

As Cointelegraph reported this week, miner outflows have markedly decreased in the past two weeks. After the halving, there was a brief period in which sales totaled more than miners’ incomes.

Bitcoin’s mining difficulty, which automatically regulates the incentive to participate in the Bitcoin network, is currently on course to repeat another trait from December 2018 — three back-to-back downward adjustments in a row.

Such a phenomenon has only happened twice before, the other occasion being a record eight consecutive drops in 2011.